2205 GMT - Technology One's strong growth prospects are already factored into the enterprise software provider's valuation, Goldman Sachs analysts say. They tell clients in a note that the Australia-listed company's first-half profit and U.K. growth were stronger than they had expected. They think that Technology One's fixed-price software-as-a-service offering is resonating with budget-conscious customers, and reckon that annual pre-tax profit growth of 15%-20% should now be seen as normal. Goldman lifts its target price 12% to A$26.90 on a higher earnings multiple but stays neutral on the stock despite bullishness elsewhere. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
November 19, 2024 17:06 ET (22:06 GMT)
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